Quest Investment Management LLC Sells 7,064 Shares of Illumina, Inc. (NASDAQ:ILMN)

Quest Investment Management LLC lowered its stake in Illumina, Inc. (NASDAQ:ILMN) by 52.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,422 shares of the life sciences company’s stock after selling 7,064 shares during the quarter. Quest Investment Management LLC’s holdings in Illumina were worth $670,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. WCM Investment Management LLC raised its holdings in Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after buying an additional 3,232,418 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after acquiring an additional 1,997,010 shares during the period. Capital World Investors bought a new position in shares of Illumina during the fourth quarter valued at about $271,753,000. Coatue Management LLC purchased a new stake in shares of Illumina during the fourth quarter worth about $119,285,000. Finally, Findlay Park Partners LLP purchased a new stake in shares of Illumina during the first quarter worth about $100,120,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $131.20 on Friday. The firm’s 50-day moving average price is $125.25 and its 200-day moving average price is $120.57. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $148.19. The company has a market cap of $20.90 billion, a PE ratio of -16.10 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, analysts anticipate that Illumina, Inc. will post 3.62 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ILMN. Scotiabank lowered their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $242.00 price objective on shares of Illumina in a research report on Wednesday, August 14th. Finally, Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.05.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.